LED Driver Market

Global LED Driver Market Size (2024 to 2032)

The global led driver market was valued at USD 15.27 billion in 2023 and is anticipated to reach a valuation of USD 18.87 billion in 2024 from USD 102.65 billion by 2032, growing at a CAGR of 23.58% from 2024 to 2032.

LED drivers are the power supply that is self-contained and can regulate the power required for the LED or an array of LEDs. These LEDs (light-emitting diodes) are the lighting devices that have a long lifespan and lowest energy consumer lighting devices, which is why there is a need for a specialized power supply.

These LEDs have been emerging as an energy-efficient alternative to traditional lighting sources for some time now. Therefore, LED demand is extensively growing in lighting and display segments from various industries. Additionally, owing to the benefits of these LEDs, such as longer life, lower heat output, miniaturization, higher energy efficiency, and directionality, these lighting are replacing traditional lighting items.

MARKET DRIVERS AND RESTRAINTS

The rising adoption of these LED lighting systems from general lighting applications is the major factor that was driving the growth of the Global LED Drivers business. This adoption of these LEDs is due to the growing demand for lighting systems that are energy-efficient, the convergence of IoT & lighting, and the acceptance of standard policies for lighting control.

Further, advancements in wireless technologies and the development of LED drivers that can be programmed are providing lucrative opportunities for the expansion of target market players.

However, unfair aspects of the high costs involved in the installation of these LED drivers are the major challenge that is hampering the growth of the LED Driver Market globally.

REPORT COVERAGE

SEGMENT ANALYSIS

Global LED Driver Market Analysis By Driving Method

Among these segments, the constant current LED driver segment is the segment that holds the major share of the global LED driver market. The growth of this segment is attributed to its capability that provide constant brightness along with lower power consumption. Also, the surge in demand for these LEDs in general lighting applications is supporting the development of the constant current LED variant.

Global LED Driver Market Analysis By Application

The backlighting application segment dominates the global LED driver market. The growth of the dominance of this segment is due to the predominant usage of mobile computing devices like smartphones and tablets.

REGIONAL ANALYSIS

In the regional analysis of the global LED driver market, Asia Pacific held the major share of the target market's revenue. Also, the market in this region is predicted to record a substantial boom over the forecast period. The major factor that boosted the growth of the market in this area was the rising permeation of LED lighting in the automotive and building & construction industries. In the Asia-Pacific region, the LED Driver Market in China is growing rapidly owing to the growing production and ingesting of LED lighting in this country. The other factor that was driving the growth of the LED Driver Market in the Asia-Pacific region is the growing up-gradation of infrastructure, which is the factor that was fuelling the demand for lighting products in this region.

And, the regional LED driver market in Europe is the market that was following the Asia-Pacific’s regional market in terms of size. The soaring concentration of the players in the market and ease in the availability of technical expertise are supporting the business. Further, the growing adoption of these LEDs in smart buildings owing to the IoT and lighting convergence in Europe is boosting the growth of the LED driver market in this locale.

KEY MARKET PLAYERS

Osram GmbH (Germany), Harvard Technology Ltd. (UK), Texas Instruments (US), Maxim Integrated (US), Macroblock Inc. (Taiwan), Atmel Corporation (US), General Electric Company (US), Cree, Inc. (the US), ROHM Semiconductors (Japan), ON Semiconductor (US), AC Electronics (US), Signify Holding (Netherlands), Lutron Electronics Co., Inc. (US), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland). These are the market players that are dominating the global LED driver market.

RECENT HAPPENINGS IN THE GLOBAL LED DRIVER MARKET

• Macroblock, a Taiwanese company that was rooted in developing the LED driver IC designs and pushing the boundaries of the LED display industry, has announced that they are going to release their new LED display technology by the 2nd Half of this Year.
• Harvard University and Astellas Pharma Inc. are getting into a three-year strategic alliance for research to support multiple, multi-year research projects that are initiated by Harvard's faculty focusing on the research and development of innovative therapeutics of mutual interest.

DETAILED SEGMENTATION OF THE GLOBAL LED DRIVER MARKET INCLUDED IN THIS REPORT

This research report on the global LED driver market is segmented and sub-segmented into the following categories.

By Driving Method

• Constant Current LED Driver
• Constant Voltage LED Driver

By Luminaire Type

• Type A-Lamps
• T-Lamps
• Reflectors
• Decorative Lamps
• Integral LED Modules

By Component

•  Driver IC
•  Discrete

By Application

• General lighting
•  Residential
• Office and Shops 
• Hospitality
• Outdoor
• Industrial
• Architectural
• Automotive Lighting
• LCD TV
• Portable PCs and Handhelds

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa